Assenagon Asset Management S.A. Increases Position in Fortive Corporation $FTV

Assenagon Asset Management S.A. raised its position in Fortive Corporation (NYSE:FTV) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,642 shares of the technology company’s stock after purchasing an additional 4,236 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fortive were worth $2,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FTV. Dodge & Cox boosted its holdings in Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after purchasing an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after purchasing an additional 4,382,242 shares during the last quarter. Invesco Ltd. boosted its holdings in Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after purchasing an additional 2,764,432 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Fortive by 4,854.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock valued at $106,208,000 after purchasing an additional 1,422,030 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Fortive in the 1st quarter valued at about $76,671,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of FTV opened at $47.68 on Friday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm’s 50 day moving average price is $48.52 and its 200 day moving average price is $61.03. The company has a market cap of $16.13 billion, a P/E ratio of 21.48, a PEG ratio of 3.06 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned $0.93 earnings per share. Fortive’s quarterly revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Fortive’s dividend payout ratio is presently 10.81%.

Analysts Set New Price Targets

FTV has been the topic of several recent analyst reports. BNP Paribas reiterated a “neutral” rating on shares of Fortive in a report on Thursday, June 12th. Melius lowered shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a report on Tuesday, July 22nd. Mizuho decreased their price objective on shares of Fortive from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Morgan Stanley restated an “equal weight” rating and issued a $50.00 price objective (down from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Finally, Barclays set a $54.00 price objective on shares of Fortive and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.79.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.